2023-06-28 16:05:58
MADRID, 28 Jun. (EUROPA PRESS) –
The food company General Mills recorded an attributable net profit of 2,594 million dollars (2,376 million euros) in its fiscal year 2023, ended on May 28, which represents 4% less compared to the previous year, according to The company reported this Wednesday.
Sales were 20,094 million dollars (18,408 million euros), 6% more.
Specifically, retail turnover in North America grew by 9%, to 12,660 million dollars (11,598 million euros), while that from other markets plummeted 16%, to 2,770 million dollars (2,538 million euro).
Revenues from the pet food division increased by 9%, to 2,473 million dollars (2,265 million euros), while the marketing of products served to restaurants and small food stores stood at 2,192 million dollars (2,008 million euros), 19% more.
The cost of products sold increased by 8%, to 13,548 million dollars (12,411 million euros), while selling, general and administrative expenses appreciated by 11%, to 3,500 million dollars (3,206 million euro). The combined costs for these chapters totaled 17,048 million dollars (15,618 million euros), 8% more.
In the fourth quarter, General Mills registered net attributable profit of 614.9 million dollars (563.3 million euros), which is equivalent to a decrease of 25% when compared to the same period of the previous fiscal year. Later, net sales experienced growth of 3%, up to 5,030 million dollars (4,608 million euros).
The board of directors of the company has declared a quarterly dividend of 0.59 dollars (0.54 euros) that will be paid on August 1 to the reference shareholders as of July 10. The figure to pay is 9% higher than the previous one.
Looking ahead to 2024, the food company warns that the factors that will condition the company’s performance will be the state of family consumption, the moderation of the cost of inputs and the “growing stability” of the supply chains. For the full year, sales will increase between 3% and 4%.
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